SSOF!!! Major NEWS Today...OKLAHOMA CITY, OKLAHOMA, June 13, 2017 SIXTY SIX OILFIELD SERVICES, INC. - InvestorsHub NewsWire - (OTCBB: SSOF), announces Second Quarter Net Revenue Estimates of $341K on Gross Sales of $1.7M for the period ending June 30. Compared to the same period in 2016, the Company anticipates quarter over quarter improvements of approximately 109% in gross sales and 118% in net revenue. The Company increased its margins from 11% to 19% which continue to track thru the 2nd Quarter. James Frazier, President and Chief Financial Officer, said: We are working hard to increase sales and are pleased with our progress to date.
Global market research and consulting firm MarketsandMarkets (www.marketsandmarkets.com) reported that oilfield equipment rental market will be worth $53.7 Billion by 2019. In their market study entitled Oilfield Equipment Rental Market by Equipment - Global Trends and Forecasts to 2019, MarketsandMarkets concluded: The North American region holds the largest market for oilfield equipment rental, driven largely by the number of drilling and E&P activities in the U.S. North America, due to its growing energy needs and flourishing conventional and unconventional drilling and oilfield service industry is the major growth engine for this market. The Company is continuing to take advantage of the market in the equipment sector. Mr. Frazier said, We are continuing to track our business development plan in a slowly trending up market. We anticipate the drilling sector to be a leading indicator of overall market direction.
The Company has submitted an application to OTCMarkets.com to renew publication of quarterly and annual information and financial statements. When approved and the information and financial statements for December 31, 2016 and March 31, 2017 are published, the Company expects its Current Information status to be restored. Information about the Company that satisfies Rule 15c2-11 is now available at www.microcapreporting.com.
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